Reference no: EM132479078
Question 1) Net income equals
A) the gross profit on a sale B) operating income minus cost of goods sold
C) the increase in cash for the period D) revenue minus expenses
Question 2) Gross profit equals
A) sales minus cost of goods sold B) operating income minus cost of goods sold C) the increase in cash for the period D) revenue minus expenses
Question 3) Busy Beaver had revenues of $2,000, cost of goods sold of $780, advertising expense of $100, and interest expense of $25. Net income was
A) $1,095 B) $1,120 (3) $1,105 D) $1,220
Question 4) Busy Beaver had revenues of $2,000, cost of goods sold of $780, advertising expense of $100, and interest expense of $25. Gross pro?t was
A) $1,095 3) $1,120 (3) $1,195 D) $1,220
Question 5) Generally accepted accounting principles (GM) A) are a set of mles that a U.S. company must follow when preparing its financial
statements B) are accounting rules determined by the IRS C) are accounting rules required by the U.S. government for all businesses to follow
D) are issued by the International Accounting Standards Board
|
What journal entries would passion company make
: Passion Company created Sound Company with a transfer of $ 1,000 cash. What journal entries would Passion Company make under Cost Method and Equity Method
|
|
Record the necessary transactions in the book
: During the year Santro has net income of $ 75,000 and pays dividend of $ 15,000. Record the necessary transactions in the book of Petro Company
|
|
Estimated conversion costs per unit
: Estimated conversion costs per unit, The estimated unit cost for a company planning to produce and sell at a level of 12,000 units per month
|
|
Deal limited the amount of profit
: How could this happen even though the deal limited the amount of profit that the regional firm could earn?
|
|
Determine what the net income was
: Busy Beaver had revenues of $2,000, cost of goods sold of $780, advertising expense of $100, and interest expense of $25. Net income was ?
|
|
Understand the concept of decreasing return
: Why we have to understand the concept of Decreasing Return to Scale and how is it related to our daily life?
|
|
Which kind of return to scale we should keep
: Which kind of 'Return to Scale' we should keep our eyes on? and Why?
|
|
Explain how the change in real interest rate
: Using the same diagram, or otherwise, explain how the change in real interest rate might affect private consumption and planned investment.
|
|
Explain the role whistleblowers played in the fraud
: Explain the role whistleblowers played in the fraud example you selected previously, or how a whistleblower would have enhanced the detection
|